On September 2, Mike Gillis announced that starting goaltender Roberto Luongo had signed a new 12-year, $64 million contract with the team.[10] With Luongo being 30 years old at the time of the extension, the contract effectively ensured that Luongo would be with the Canucks for the remainder of his career. The contract included a modified no trade clause (NTC): in the fifth year of its term, Luongo would be able to request a trade, and in the seventh year of its term, the Canucks would obtain the right to trade Luongo without his consent.[11]

On March 17, 2010, the Canucks signed their first round draft pick from the 2009 NHL Entry Draft, Jordan Schroeder.[17] The deal was a standard entry-level contract for three years. The contract was for the entry-level maximum of US$900,000 per season along with a $270,000 signing bonus.[18] However, because the contract was signed after the NHL trade deadline, Schroeder was ineligible to play for the Canucks for the remainder of the season. As a result, Schroeder signed an amateur tryout contract with the Canucks' American Hockey League affiliate, the Manitoba Moose.

The Canucks clinched a playoff berth for the second consecutive year with a shootout victory over the Anaheim Ducks on April 2. The Canucks also managed to clinch a second consecutive Northwest Division title when they defeated the Minnesota Wild in overtime on April 4. The win secured the Canucks a top three seed in the 2010 Stanley Cup playoffs and home ice advantage in the first round.

On April 18, 2010, the Canucks signed their 2009 third round draft pick, Kevin Connauton. The terms of the deal were not disclosed.[19] However, like Schroeder, Connauton was ineligible to play for the Canucks as his contract was signed after the NHL trade deadline.

The Canucks finished the regular season third overall in the Western Conference.[20] They were the second highest scoring team, with 268 goals for, averaging 3.27 goals per game.[21]